--- title: A Refreshing Perspective on Money and Happiness | ENWS description: Discover how aligning your wealth with personal values can lead to greater happiness and freedom, beyond mere financial accumulation. Learn the balance between money and true contentment. image: https://en-ws.com/hubfs/A%20Refreshing%20Perspective%20on%20Money%20and%20Happiness.png --- [Skip to content](https://en-ws.com/insights/a-refreshing-perspective-on-money-and-happiness#main-content) [![Ellerbrock-Norris Wealth Strategies logo](https://en-ws.com/hs-fs/hubfs/Ellerbrock-Norris-WealthStrategies%20Logo.png?width=1940&height=320&name=Ellerbrock-Norris-WealthStrategies%20Logo.png)](https://www.ellerbrock-norris-ws.com) - [Services](https://en-ws.com/#services) Show submenu for Services - [Business Exit Planning](https://en-ws.com/business-exit-planning) - [Wealth Management](https://en-ws.com/wealth-management) - [Tax Planning](https://en-ws.com/tax-planning) - [Charitable Giving](https://en-ws.com/charitable-giving) - [Retirement Planning](https://en-ws.com/retirement-planning) - [Estate Planning](https://en-ws.com/estate-planning) - About Show submenu for About - [Meet ENWS](https://en-ws.com/about) - [Careers](https://en-ws.com/careers) - [Client Access](https://en-ws.com/client-access) - [Insights](https://en-ws.com/insights) Open main navigation Close main navigation - [Services](https://en-ws.com/#services) Show submenu for Services - [Business Exit Planning](https://en-ws.com/business-exit-planning) - [Wealth Management](https://en-ws.com/wealth-management) - [Tax Planning](https://en-ws.com/tax-planning) - [Charitable Giving](https://en-ws.com/charitable-giving) - [Retirement Planning](https://en-ws.com/retirement-planning) - [Estate Planning](https://en-ws.com/estate-planning) - About Show submenu for About - [Meet ENWS](https://en-ws.com/about) - [Careers](https://en-ws.com/careers) - [Client Access](https://en-ws.com/client-access) - [Insights](https://en-ws.com/insights) - [Contact us](https://en-ws.com/contact) [Contact us](https://en-ws.com/contact) Nov 1, 2024, 11:54:18 AM # A Refreshing Perspective on Money and Happiness [Alex Kluesner](https://en-ws.com/insights/author/alex-kluesner) Share: [facebook-f icon](http://www.facebook.com/share.php?u=https://en-ws.com/insights/a-refreshing-perspective-on-money-and-happiness) [linkedin-in icon](http://www.linkedin.com/shareArticle?mini=true&url=https://en-ws.com/insights/a-refreshing-perspective-on-money-and-happiness) [Twitter icon](https://twitter.com/intent/tweet?url=https://en-ws.com/insights/a-refreshing-perspective-on-money-and-happiness) [pinterest-p icon](http://pinterest.com/pin/create/link/?url=https://en-ws.com/insights/a-refreshing-perspective-on-money-and-happiness) [envelope icon](mailto:?body=https://en-ws.com/insights/a-refreshing-perspective-on-money-and-happiness) ![A Refreshing Perspective on Money and Happiness](https://en-ws.com/hs-fs/hubfs/A%20Refreshing%20Perspective%20on%20Money%20and%20Happiness.png?width=1400&height=788&name=A%20Refreshing%20Perspective%20on%20Money%20and%20Happiness.png) Eighteenth-century Swiss philosopher Jean-Jacques Rousseau said, “The money you have gives you freedom; the money you pursue enslaves you.” He clearly believed that money alone can’t guarantee happiness, and many other philosophers, business moguls, and philanthropists both before and after his time would agree. After all, it’s likely very few of us in the end would take more of the stuff that money can buy in exchange for less of the things that it can’t. And this understanding is at the heart of the approach we take to designing your financial life plan. Sure, we all know that wealth provides a certain level of wellbeing. It’s also true that, after a point, the happiness money offers can be more fleeting. This concept has spurred a welter of socio-psychological and financial studies to determine whether an increase in wealth – beyond satisfying your essential needs – will result in a similar increase in happiness. For instance, a 2010 study conducted by Nobel Prize-winning economists Daniel Kahneman and Angus Deaton claimed that the relationship between annual income and happiness was highly correlated up to $75,000 a year but then lost significance above that threshold.1 A more recent addition to the literature, a 2021 study from Matthew Killingsworth, shows wealth does continue providing more happiness above that $75,000 income level – but at a diminishing rate.2 This research doesn’t provide a hard-and-fast rule for every situation, in part because you may need more or less wealth than someone else to feel content in the lifestyle right for you. But the takeaway for us is that there’s an inflection point. The psychological cost of generating additional wealth may come to outweigh any temporary happiness gained from it. The question remains – what should you do with the money you do have? The beauty of money is that it can buy many things, and while you can’t order happiness off Amazon (some might argue that point), it can buy flexibility. When spent wisely, a certain level of wealth can afford you the opportunity to do almost whatever you want, whenever you want, and with whoever you’d like. It can buy you more time with friends and family. It can allow you to quit your job tomorrow and pursue a truer passion. It gives you freedom to do the things that make you happiest. And you don’t need an immeasurable amount of wealth to do these things as long as you prioritize what truly matters to you, such as charitable giving, family vacations, or planning for the next generation. Following this framework could make you feel wealthier than any amount of money ever could. Your long-term financial plan is one mechanism to help translate your money into happiness. Your advisory team works diligently with this idea in mind when helping you select an investment portfolio and implement planning strategies to meet your life goals and desired milestones. So, instead of being focused solely on accumulating wealth or chasing higher investment returns, be mindful of how your financial life plan can deliver freedom, flexibility, and even greater happiness. 1. *Daniel Kahneman and Angus Deaton, “High income improves evaluation of life but not emotional well-being,” Proceedings of the National Academy of Sciences 107, no. 38 (September 2010): 16489-16493.* 2. *Matthew A. Killingsworth, “Experienced well-being rises with income, even above $75,000 per year,” Proceedings of the National Academy of Sciences 118, no. 4 (January 2021): e2016976118.* ‍ [Wealth Management](https://en-ws.com/insights/tag/wealth-management), [Key Personnel Planning](https://en-ws.com/insights/tag/key-personnel-planning) ## Related posts [![A person reviewing documents for financial planning for small business owners. ](https://en-ws.com/hs-fs/hubfs/Blog%20Image%20(6).png?height=200&name=Blog%20Image%20(6).png)](https://en-ws.com/insights/financial-planning-for-small-business-owners-how-to-maximize-business-valuation-and-manage-wealth) ## [Financial Planning for Small Business Owners: How to Maximize Business Valuation and Manage Wealth](https://en-ws.com/insights/financial-planning-for-small-business-owners-how-to-maximize-business-valuation-and-manage-wealth) Financial planning for small business owners isn’t about staying afloat – it’s about steering the... 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[Read more](https://en-ws.com/insights/cultivating-an-abundance-mindset-even-in-difficult-times) [![Two people ready to discuss business exit planning.](https://en-ws.com/hs-fs/hubfs/business%20exit%20plan.png?height=200&name=business%20exit%20plan.png)](https://en-ws.com/insights/business-exit-plan-the-6-step-blueprint-for-a-smooth-transition) ## [Business Exit Plan: The 6-Step Blueprint for a Smooth Transition](https://en-ws.com/insights/business-exit-plan-the-6-step-blueprint-for-a-smooth-transition) At the end of the day, every business owner is going to exit the business. The question becomes:... [Read more](https://en-ws.com/insights/business-exit-plan-the-6-step-blueprint-for-a-smooth-transition) ![ENWS\_REV](https://en-ws.com/hs-fs/hubfs/ENWS_REV.png?width=350&height=58&name=ENWS_REV.png "ENWS_REV") About Us [Meet ENWS](https://45966733.hs-sites.com/about) [Careers](https://en-ws.com/careers) Client Resources [Insights](https://45966733.hs-sites.com/insights) [Client Logins](https://45966733.hs-sites.com/client-access) [Disclosures](https://45966733.hs-sites.com/disclosures) Our Services [Business Exit Planning](https://45966733.hs-sites.com/business-exit-planning) [Wealth Management](https://45966733.hs-sites.com/wealth-management) [Tax Planning](https://45966733.hs-sites.com/tax-planning)[Charitable Giving](https://45966733.hs-sites.com/charitable-giving) [Retirement Planning](https://45966733.hs-sites.com/retirement-planning) [Estate Planning](https://45966733.hs-sites.com/estate-planning) [Contact Us](https://en-ws.com/contact) [facebook-f icon](https://www.facebook.com/ENWealthStrategies/) [linkedin-in icon](https://www.linkedin.com/company/ellerbrock-norris-wealth-strategies) [youtube icon](https://www.youtube.com/@ellerbrock-norriswealthstr2126?app=desktop) Copyright © 2025, Ellerbrock-Norris Wealth Strategies Ellerbrock-Norris Wealth Strategies, 4331 N 156th St., Omaha, NE 68116 Ellerbrock-Norris Wealth Strategies LLC is an investment adviser principally registered in Nebraska, and registered or exempt from registration in other states as applicable. 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Additional information about Ellerbrock-Norris Wealth Strategies LLC and our advisors is also available online at [www.adviserinfo.sec.gov](https://adviserinfo.sec.gov/firm/summary/295099).  ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Alex Kluesner", "url" : "https://en-ws.com/insights/author/alex-kluesner" }, "dateModified" : "2024-11-21T19:59:21.973Z", "datePublished" : "2024-11-01T16:54:18.000Z", "headline" : "A Refreshing Perspective on Money and Happiness | ENWS", "image" : [ "https://en-ws.com/hubfs/A%20Refreshing%20Perspective%20on%20Money%20and%20Happiness.png" ], "mainEntityOfPage" : { "@id" : "https://en-ws.com/insights/a-refreshing-perspective-on-money-and-happiness", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://en-ws.com/hubfs/Ellerbrock-Norris-WealthStrategies%20Logo.png" }, "name" : "Ellerbrock-Norris Wealth Strategies" } } ```